Agree Realty Corporation Stock Forecast
Evaluation of Agree Realty Corporation stock downgraded after the last trading session.
(Updated on Apr 30, 2024)
The Agree Realty Corporation stock price fell by -0.95% on the last day (Tuesday, 30th Apr 2024) from $57.77 to $57.22. During the last trading day the stock fluctuated 1.09% from a day low at $57.02 to a day high of $57.64. The price has risen in 6 of the last 10 days and is up by 4.23% over the past 2 weeks. Volume has increased on the last day by 257 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $57.52 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.20% during the next 3 months and, with a 90% probability hold a price between $52.87 and $57.00 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ADC Signals & Forecast
The Agree Realty Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $57.66. On a fall, the stock will find some support from the long-term average at approximately $56.59. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -1.97%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Wednesday, April 24, 2024 and based on theory for this formation the price should fall by -8.88% to $52.14 within 11 trading days since signal was issued (Wednesday, May 01, 2024).
Support, Risk & Stop-loss for Agree Realty Corporation stock
Agree Realty Corporation finds support from accumulated volume at $57.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.620 between high and low, or 1.09%. For the last week the stock has had daily average volatility of 1.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ADC) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Agree Realty Corporation to open at $57.29, and during the day (based on 14 day Average True Range), to move between $56.25 and $58.19, which gives a possible trading interval of +/-$0.97 (+/-1.69%) up or down from last closing price. If Agree Realty Corporation takes out the full calculated possible swing range there will be an estimated 3.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $57.11 (0.19%) than the resistance at $57.77 (0.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Agree Realty Corporation stock A Buy?
Agree Realty Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.406 Sell Candidate Downgraded
Predicted Opening Price for Agree Realty Corporation of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $57.29 ( 0.128%) | $57.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 57.91 | 1.21 % | |
| R2 | 57.68 | 0.798 % | ||
| R1 | 57.53 | 0.542 % | ||
| Current price: | 57.22 | |||
| Support | S1 | 57.06 | -0.286 % | |
| S2 | 56.91 | -0.541 % | ||
| S3 | 56.67 | -0.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 58.45 | 2.15 % | |
| R2 | 58.15 | 1.63 % | ||
| R1 | 57.77 | 0.96 % | ||
| Current price | 57.22 | |||
| Support | S1 | 57.11 | -0.192% | |
| S2 | 56.56 | -1.15% | ||
| S3 | 56.20 | -1.78% |
ADC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 14, 2024 | $0.250 | 0.437% |
| 2 | Mar 12, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.247 | 0.439% |
| 3 | Feb 08, 2024 | Feb 28, 2024 | Mar 14, 2024 | $0.247 | 0.447% |
| 4 | Jan 11, 2024 | Jan 30, 2024 | Feb 14, 2024 | $0.247 | 0.440% |
| 5 | Dec 12, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.247 | 0.396% |
FAQ
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